Tag: Support and resistance

The LTC/USD pair did move higher and outperformed other major cryptocurrencies such as bitcoin, ripple, Ethereum, and bitcoin cash. It broke the …

Litecoin price surged recently and tested the $59-60 resistance area against the US Dollar.

LTC price is placed nicely in an uptrend and it could continue to move higher towards $60.00 and $65.00.

There is a crucial bullish trend line formed with support at $51.00 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).

The pair remains supported on dips and it could attempt to climb above the $59.04 high in the near term.

Litecoin price gained bullish momentum recently against the US Dollar and bitcoin. LTC is trading above the $55.00 resistance and eyeing an upside break above the $60.00 resistance.

Litecoin Price Analysis

In the last analysis, we discussed a solid upward move in litecoin price towards $58.00 and $60.00 against the US Dollar. The LTC/USD pair did move higher and outperformed other major cryptocurrencies such as bitcoin, ripple, Ethereum, and bitcoin cash. It broke the $54.00 and $55.00 resistance levels. The upward move was strong, with a break above $58.00 and close above the 55 simple moving average (4-hours). The price traded close to the $60.00 resistance and a new monthly high was formed at $59.04.

Later, the price corrected lower and declined below the $58.00 and $55.00 support levels. Besides, the price declined below the 23.6% Fib retracement level of the last wave from the $44.36 low to $59.04 high. However, the decline found support near the $52.15 level and the 55 simple moving average (4-hours). Moreover, the 50% Fib retracement level of the last wave from the $44.36 low to $59.04 high acted as a support. The price climbed higher once again and traded above the $54.00 and $55.00 levels.

The current price action is positive and suggests more gains towards the $58.00 and $60.00 resistance levels. If there are more gains, the price could test the $62.00 level. On the downside, there is a decent support formed near the $54.00 level. Moreover, there is a crucial bullish trend line formed with support at $51.00 on the 4-hours chart of the LTC/USD pair.

Looking at the chart, litecoin price is placed nicely in a positive zone above the $54.00 and $50.00 levels. If there is a downside correction, buyers are likely to defend losses below $50.00. On the upside, the ultimate aim could be a proper push above the $60.00 and $62.00 resistance levels.

Technical indicators

4 hours MACD – The MACD for LTC/USD is placed heavily in the bullish zone, with a positive bias.

Bitcoin Cash Price Analysis

Recently, bitcoin cash price declined below the $130 and $128 support levels against the US Dollar. The BCH/USD pair tested the $126 support level and later corrected higher. The price is currently trading just above the $128 level and it seems like it could test the $130 resistance level in the near term.

If there is a break above the $130 resistance, the next aim for buyers could be the $132 barrier. On the downside, a break below the $128 support may perhaps push the price towards the $126 or $125 support.

Litecoin (LTC), Tron (TRX) and Cardano (ADA) Price Analysis

Litecoin price remained in a strong uptrend from the $52 support level against the US Dollar. LTC price recently spiked towards the $58 level and later corrected lower. However, the $54 support prevented declines and the price recently gained more than 5%. It is currently trading above the $57 level and it may continue to rise towards the $58 or $60 resistance.

Tron price declined heavily and broke the $0.0220 support level recently. TRX price tested the $0.0210 level and late recovered above $0.0220. However, there are many hurdles on the upside near the $0.0230 and $0.0232 levels, where sellers are likely to emerge.

Cardano price traded nicely in the past few sessions and broke the $0.0450 and $0.0465 resistance levels. ADA price is currently trading above the $0.0470 level and it may continue to climb higher. An immediate resistance is at $0.0485, above which the price could rally towards the $0.0500 resistance zone.

Looking at the total cryptocurrency market cap hourly chart, there was a drop below the $128.0B support level. The market cap tested the $125.0B support level and it recently corrected higher. There was a decent rebound above the $127.5B level, but there is a strong resistance formed near $129.0B and a bearish trend line. Moreover, the key resistance is near the $130.0B level. If there is an upside break above the $130.0B barrier, the crypto market could rally in the near term, with gains in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, TRX, ICX, XLM and other altcoins.

The price of CVC on Bittrex is analyzed at one-hour intervals from Mar 5 to Mar 12. The price made a low of $0.575 on Mar 5. It has made successively …

The price of Civic (CVC) skyrocketed on Mar 12, 2019. Prices subsequently dropped as part of an apparent correction; however, at the time of writing, Civic’s price is still trading at a higher level than before the Mar 12 spike.

While the retracement is not yet finished, it is expected that prices stabilize at a level above that prior to the breakout. For more information, keep scrolling and read on!

Key Highlights For Date

The price of Civic (CVC) has been on a gradual uptrend since Mar 5.

It initiated a rapid increase on Mar 12.

The MACD and SMAs initiated a buy signal.

There is resistance near $0.1 and $0.112.

There is support near $0.065 and $0.072.

Ascending Support Line

The price of CVC on Bittrex is analyzed at one-hour intervals from Mar 5 to Mar 12.

The price made a low of $0.575 on Mar 5. It has made successively higher lows since. Tracing these lows gives us the ascending support line.

It can effectively act as a floor tracing the lower limits of price for a given period. Theoretically, the price should not drop below this line. In the case of Civic, growth occurred at the rate predicted by the support.

However, on Mar 12 a rapid price increase ensued which took the price to a high of $12.2—the current high of the year. This high is well above the support and amounted to an 85% increase in price within 30 minutes. A subsequent decline followed and has been continuing for the last several hours.

Despite this drop, the price of CVC is still trading well above the levels before the Mar 12 spike. It is likely that the price of CVC will continue to drop toward the support line. However, it is unlikely that the price will drop below this line. It is possible that new lows above that currently traced may develop.

Previous resistance

The price made a high of $0.627 on Mar 5. Since then, it has proceeded to make higher highs. Tracing these highs gives us an ascending resistance line.

The resistance line can act as a ceiling to price in the same way support acts as a floor. Price theoretically should not break resistance. If this occurs, rapid price increases often occur.

Such is the case with CVC. The Mar 12 spike led the price well above the resistance. Despite recent drops, it is still trading well above this line. New support and resistance may be developing, but this cannot be determined at the current moment. Price may return to the parallel channel created by the resistance and support traced on the chart above.

If prices do not return to the channel but remain above the resistance line, new resistance and support will develop. At the current time, this appears likely.

Signals Triggered

The moving average convergence divergence (MACD) is a trend indicator that shows the relationship between two moving averages (long and short-term) and the price. It is used to measure the strength of a move. and sell signals.

Combined with simple moving averages (SMA), MACD can be used as a trigger for buy and sell signals. Signals are triggered whenever the MACD line is above 0 and the price is above the 21 (red) and 50-period (green) SMAs.

On Mar 11, after touching the support line for the third time, price initiated an upward move which took it above the 21 and 50-period moving averages. During the same interval, the MACD line moved above 0. This effectively triggers a buy signal, indicating that the current trend is over and an uptrend could begin.

This would be invalidated by a price movement below the moving averages and a MACD cross below 0.

Using these indicators, it is likely that the price will now breakdown below the current support. On the contrary, though prices may continue decreasing, an upward trend is likely to continue at the completion of the correction.

Future Movements

The price of CVC on Bittrex is analyzed at 12-hour intervals from Aug 12, 2018 to Mar 12, 2019.

This is done in order to better visualize resistance areas which could provide a reversal.

The support areas are found near $0.071 and $0.065 respectively. These provide likely areas of reversal when the price stabilizes.

Resistance areas are found near $0.1 and $0.112. While price initially broke through both of them, the increase was not sustained and is currently trading below them. If the price initiates another upward move, these two areas would present a likely place where it could come to a stop.

Summary of Analysis

Based on this analysis, it is likely that the price stabilizes at a level above the short-term support line and pre-breakout levels. If the price does not break down from the support line visualized in section one, this prediction will be validated.

Do you think the price will reach the $12 high again? Let us know in the comments.

Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.

A “pivot point” is a technical analysis indicator used to understand the overall trend of the market over different time periods. The pivot point is the …

A “pivot point” is a technical analysis indicator used to understand the overall trend of the market over different time periods. The pivot point is the average of the high, low and closing prices from the previous day. On the following trading day, any trading higher than the pivot point would indicate an ongoing bullish trend, and any trading below the pivot point would indicate a bearish trend. Pivot point analysis is used alongside factoring in support and resistance levels, similar to trend line analysis. In pivot point analysis, the first support and resistance levels are found by utilizing the width of the trading range between the pivot point and either the high or low prices of the previous trading day while secondary support and resistance levels are found using the full width between the high and low prices of the previous trading day.Pivot points are oft-used indicators for trading futures, commodities, and stocks. They are static, remaining at the same price level throughout the day. Five pivot point levels are generated by using data from the previous day’s trading range.

These are composed of a pivot point and two higher pivot point resistances called R1 and R2 and also two lower pivot point supports called as S1 and S2. Zecotek Photonics (ZMSPF)’s Pivot Point is 0.0325. Its 1st Resistance Point is 0.0354 and its 2nd Resistance Point is 0.0414. The 1st Support Point is 0.0265 while its 2nd Support Point is 0.0236.

Zecotek Photonics (ZMSPF)’s Raw Stochastic, which shows (on a range of 0%-100%) where the price closed in relation to its price range over the last nine days is 17.14%. Their Stochastic %K, which indicates (on a range of 0%-100%) where the price closed in relation to its price range over the last nine days with a 3-period exponential moving average applied is 39.57%. Finally, their Stochastic %D, the indicator that shows (on a range of 0%-100%) where the price closed in relation to its price range over the last nine days with a 3-period exponential moving average applied, is 43.23%.

Zecotek Photonics (ZMSPF)’s TrendSpotter Opinion, the signal from Trendspotter, a Barchart trend analysis system that uses wave theory, market momentum & volatility in an attempt to find a general trend, is Sell.

Barchart Opinions show investors what a variety of popular trading systems are suggesting. These Opinions take up to 2 years’ worth of historical data and runs the prices through thirteen technical indicators. After each calculation, a buy, sell or hold value for each study is assigned, depending on where the price is in reference to the interpretation of the study. Today’s opinion, the overall signal based on where the price lies in reference to the common interpretation of all 13 studies, for Zecotek Photonics (ZMSPF) is 56% Sell.

Known also as statistical volatility, Historical Volatility is the realized volatility of a financial instrument over a specified period of time. The measure is calculated by finding the average deviation from the average price of a commodity during a specified time period. Standard deviation is the most common, though not only, way to calculate historical volatility. Zecotek Photonics (ZMSPF)’s 9-Day Historical Volatility is 236.86%, its 14-Day Historical Volatility is 196.18%, and looking back further, its 20-Day Historical Volatility is 176.86%.

Disclaimer: Nothing contained in this publication is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional.

A “pivot point” is a technical analysis indicator used to find the overall trend of the market over different time periods. A pivot point is simply the average …

A “pivot point” is a technical analysis indicator used to find the overall trend of the market over different time periods. A pivot point is simply the average of the high, low and closing prices from the previous trading day. The following day, any trading above the pivot point indicates bullish trends, and trading below the pivot point indicates a bearish trend. Pivot point analysis is used in alongside consideration of support and resistance levels. The first support and resistance levels are found by utilizing the width of the trading range between the pivot point and the high or the low prices of the day’s trading. Secondary support and resistance levels can be found using the full width between the high and low prices of the previous trading day.Pivot points are oft-used indicators for trading futures, commodities, and stocks. They are static, remaining at the same price level throughout the day. Five pivot point levels are generated by using data from the previous day’s trading range.

These are composed of a pivot point and two higher pivot point resistances called R1 and R2 and also two lower pivot point supports called as S1 and S2. Haydale Graphene Industries Plc (HDGHF)’s Pivot Point is 0.04. Its 1st Resistance Point is 0.04 and its 2nd Resistance Point is 0.04. The 1st Support Point is 0.04 while its 2nd Support Point is 0.04.

Haydale Graphene Industries Plc (HDGHF)’s Raw Stochastic, which shows (on a range of 0%-100%) where the price closed in relation to its price range over the last nine days is 18.46%.

Their Stochastic %K, which indicates (on a range of 0%-100%) where the price closed in relation to its price range over the last nine days with a 3-period exponential moving average applied is 26.67%. Finally, their Stochastic %D, the indicator that shows (on a range of 0%-100%) where the price closed in relation to its price range over the last nine days with a 3-period exponential moving average applied, is 26.63%.

Known also as statistical volatility, Historical Volatility is the realized volatility of a financial instrument over a specified period of time. The measure is calculated by finding the average deviation from the average price of a commodity during a specified time period.

Standard deviation is the most common, though not only, way to calculate historical volatility. Haydale Graphene Industries Plc (HDGHF)’s 9-Day Historical Volatility is 537.29%, its 14-Day Historical Volatility is 968.76%, and looking back further, its 20-Day Historical Volatility is 820.69%.

Haydale Graphene Industries Plc (HDGHF)’s TrendSpotter Opinion, the signal from Trendspotter, a Barchart trend analysis system that uses wave theory, market momentum & volatility in an attempt to find a general trend, is Sell.

Barchart Opinions show investors what a variety of popular trading systems are suggesting. These Opinions take up to 2 years’ worth of historical data and runs the prices through thirteen technical indicators. After each calculation, a buy, sell or hold value for each study is assigned, depending on where the price is in reference to the interpretation of the study. Today’s opinion, the overall signal based on where the price lies in reference to the common interpretation of all 13 studies, for Haydale Graphene Industries Plc (HDGHF) is 96% Sell.

Disclaimer: Nothing contained in this publication is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional.